Thursday, September 12, 2019 / by Jake Angelo
The number one is put your game face on, make sure that the appeal is done properly, make sure that you prepare your home, and get it ready. Don't just play your home up just the way it is. Take this seriously, don't leave money on the table, it's important.
I guess there's minor renovations you can do, and then there's some renovations that you're just not going to get your money back, so make sure you consult with a professional to make sure that you're taking the right route.
I know there's a lot of people watching HGTV and they're trying to learn a lot of these things, but still, there's some renovations that you will not get your return. For example, a kitchen you may get 50 cents, 53 to 58 cents on the dollar, and a bathroom you may get somewhere around 58 cents return on your dollar. But not everybody will get the same return, so make sure you do proper research.
Number two is declutter and depersonalize. This one is my absolute favorite. Anytime I go to a seller's home, a lot of times some of them feel a little bit embarrassed because they have a lot of stuff, but don't be because almost 90% of sellers have consumed a lot of stuff in their home. The trick is to start little by little, room by room, get the family involved, and get the kids involved. I know it's an overwhelming process, but it's something that needs to be done, and believe me, it's cleanse and it has to get done.
Declutter the space, depersonalize it, get rid of things you don't want, and personal items you want the buyer to feel at home, not at someone else's home.
Number three, get a killer agent on your site. Make sure you're interviewing a few agents and you're picking the right one, based on a set of questions you have that you're seeking out. Don't just pick out a random agent just because you know them more, they sold one house on your street. Go through the process properly.
Number four, analyze current market dynamics and trends. Make sure that you're not just looking at sold data, but you're also looking at what's available, what listings have listed at certain prices and they did not sell, the ones that failed. You want to know what sold, what's available, what failed, and market trends so you can see also ahead of you, not just behind you.
Also like averaged, like what are the average dates on market for that property? Or for that area, or average sale ratio, this will give you a better idea of more realistic time frame and price range.
Even if you don't understand all of these things, make sure you have an agent that does, and they explain to you so it doesn't sound like techno to you. Make sure they explain it to you in human language, so at least you get educated in decision on pricing.
Number five is also a huge one, the price is right. This is kind of linked to understanding the current market, so make sure you work with an expert real estate agent who understands the market prices in that area, and making sure that you do not overprice your house, because it will not work.
And number six is, don’t use pictures with your iPhone. I know the iPhones are really good these days and we technology is going up, or getting better and improving, but so are photographer tricks and things that they use.
We have buyers actually reaching out to us from like China, from Russia, from England, from all over the world, US, and other parts of Canada, going through our properties basically virtually, and then even sometimes in FaceTime. These pictures are very important because buyers will start their search online.
Seven, always, always negotiate. This is a huge part of selling your house. Make sure you're working with a really good agent who's an expert master at negotiating. Because when it comes to price, it's not just price, it's terms, its closing. There are so many variables that go into an offer, so in order to make sure you're protected, but also to make sure you're getting the best value or the best deal, you want to always negotiate everything in an offer.
Number eight, and a really important one is to have some kind of financial, or some kind of guarantee, some kind of assurance for the buyer who's going to be buying your house, you know what I mean? Maybe have some kind of buy back guarantee or some kind of guarantee that you're going to offer to the seller, or a warranty for the house so they have a peace of mind that they're buying a house that's already backed up with a warranty or some kind of assurances.
Differentiate yourself on the competition, really.
Separate yourself, set yourself apart. Also, you know, if you have an agent that can offer some kind of trade up program to the buyers that have a house to sell, that would definitely be really helpful as well.
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